Tax Tips

Tax Tips

Where is my Refund!
After successful filing of your tax return, IRS will take at least 21 days long to process your refund and that long to process the return.

E-file Your Taxes
It's Easy, Fast, Safe and most importantly it is mandatory by IRS that most tax return preparers must use IRS e-file

New Job-50 miles Far from Home!
If one have got a new job and it involves a travel, you may claim your expenses on your tax return. The new job has to be 50 miles far from your former home than your old job was, so cross-town moves may not qualify.

Dependent Parents
Is either or both parents are living with you? Just know you can get some relief through your income tax return. You can claim your parents as dependents if they meet the federal requirements.

Extension filing-relieved !!
Even though you got extension to file from IRS and you got six months to file your return and do remember that you need to pay the tax dues that you owe by April 15.

No Earning - No EITC
Earned Income Tax Credit is not like everybody gets a refund no matter how it is. But the key point is Earned Income. If you didn't have wages of some sort of earned income, you may not qualify for the EITC.

Office Square Footage - Deduction
IRS has a new option for 2013 that could save you some fair amount as deduction that, If you usually take the Office in Home deduction, the new method multiplies your office square footage by a prescribed rate to figure the deduction.

Office Square Footage - Deduction
IRS has a new option for 2013 that could save you some fair amount as deduction that, If you usually take the Office in Home deduction, the new method multiplies your office square footage by a prescribed rate to figure the deduction.

Energy Efficiency - Tax Credit
Any qualified equipment installed in 2012 or 2013 is eligible for this credit. Maximum tax credit $ 500 can be calmed for all years. No addtional tax credit for any new purchases